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Years ago, the "policy
of agency" (who an agent represents) was that both the listing agent
and the selling agent represented the seller (who paid the
commission). These days, the listing agent represents the seller,
and the buyer's agent represents the buyer.
Buyers have a choice!
Sellers still pay commission but it is paid to the brokerage of the
listing agent. That brokerage in turn splits the commission with the
brokerage of the buyer's agent. The individual agent is then
paid on whatever level has been agreed upon in their office
contract.
Agents have a choice!
What's my policy? Very simply:
For people transferring, relocating or asking me for
information on homes, I represent the buyer. You may ask - what's
covered in this representation? These are the standards I follow:
Accountability
- to my client and for my actions
Confidentiality
Obedience
Loyalty
Disclosure
Benefits to the Buyer
1) My commitment to the buyer
2) Protection of the buyer’s interest
3) Confidentiality
4) Disclosure and loyalty
5) Negotiating experience
6) Mortgage financing
7) Best possible deal for buyer
Buyer's Broker Agreement
I do not ask a buyer to sign an Exclusive Buyer Broker
Agreement, although I will be happy to do so if asked. On behalf of my
buyer I extend much time. effort, loyalty, education and expertise. I
would hope that with the level of service I strive to offer, a buyer will be
loyal to me.
When an offer is written, it is then necessary to sign an
Agency Disclosure stating who I represent and it will become part of the
offer. It will also be in the language of the contract.
New Construction
Regarding New Construction, I can represent the buyer as
well. Most builders in this area do cooperate with real estate
agencies and many seek out our assistance.
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